Dec 26, 2025 | Posted by Abdul-Rahman Oladimeji
US law firm Robbins Geller Rudman & Dowd is investigating Fermi America, the developer of the up to 11GW mega data center campus in Amarillo, Texas. The law firm said that it is investigating the company over potential violations of federal securities laws following the collapse of an anchor tenant agreement tied to the project.
Fermi announced that it had signed a non-binding letter of intent (LOI) with an unnamed “investment grade-rated tenant” to be the first customer at the campus in September.
According to reports, the deal was valued at $150 million. However, a statement from the firm earlier this month stated that the exclusivity period detailed in the LOI had now expired and that the potential tenant had terminated the agreement, though discussions continue over a lease for data center space on the campus.
Robbins Geller said its investigation will focus on whether Fermi and certain executives made misleading statements or failed to disclose material information to investors related to the tenant agreement and associated funding. The firm is seeking information from investors who may have suffered losses.
